Bought with The Foundation Group LLC
$17,900,000
$16,500,000
8.5%For more information regarding the value of a property, please contact us for a free consultation.
63,485 SqFt
SOLD DATE : 08/04/2022
Key Details
Sold Price $17,900,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 63,485 sqft
Price per Sqft $281
Subdivision Snohomish
MLS Listing ID 1920597
Style 56 - 10+ Units
Year Built 1991
Annual Tax Amount $83,482
Lot Size 1.437 Acres
Property Sub-Type Multi-Family
Property Description
Swifty Creek Apartments - value-add 70 unit complex on three parcels. Unique offering with spacious unit layouts, tidy grounds, on-site office for management, central location near Highway 2 and territorial views of the Cascade Mountain Range. The offering includes a significant value-add component which comes from renovating units, implementing a utility bill-back system, adding washers and dryers to the remaining one-bedroom units, and modifying the two-bedroom one ¼ baths to two-bathrooms. Current cap rate is 4.66% and trending to 6%+.
Location
State WA
County Snohomish
Area 760 - Northeast Snohomish?
Interior
Flooring Laminate, Carpet
Exterior
Exterior Feature See Remarks
Utilities Available Electric
Waterfront Description No Bank
View Y/N Yes
View See Remarks
Roof Type Composition
Building
Lot Description Adjacent to Public Land
Sewer Available
Water Community
New Construction No
Schools
Elementary Schools Buyer To Verify
Middle Schools Buyer To Verify
High Schools Snohomish High
School District Snohomish
Others
Acceptable Financing Conventional
Listing Terms Conventional
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